The PNC Financial Services Group (PNC) Revenue — Quarter Ended Mar 31, 2024
Revenue declined in the first quarter, continuing a downward trend. Both the sequential and year-over-year comparisons showed decreases.
Key takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue declined in the first quarter, continuing a downward trend. Both the sequential and year-over-year comparisons showed decreases.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$5.1B
Revenue reported for this quarter.
Quarter-over-quarter
-4.0%
Change from the immediately preceding quarter.
Year-over-year
-8.2%
Change from the comparable year-ago quarter.
Trailing four quarters
$21B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2023 | $5.3B | +3.5% |
| Sep 30, 2023 | $5.2B | -5.7% |
| Dec 31, 2023 | $5.4B | -7.0% |
| Mar 31, 2024 | $5.1B | -8.2% |
Revenue performance
The quarter's revenue was lower than the preceding period, reflecting ongoing headwinds.
Quarterly comparison
Compared to the immediately preceding quarter, revenue declined further, and the year-over-year drop was more pronounced.
What to watch
Future revenue trends should be monitored closely, particularly the ability to stabilize or reverse the decline.